Temu and Etsy Big Strides!

PLUS: 🍨 Love in the Air & Super Bowl Surprises

January 29, 2024

Hey there Scooper 🍨

Or was it a dream??

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ONLINE SHOPPING

🌐 Transforming Retail Landscapes: Temu's Silver Surge & Etsy's Gift Mode Delight

Temu, positioned as an Amazon alternative, has defied expectations, drawing in a noteworthy number of baby boomers and Generation X shoppers in the U.S. Meanwhile, Etsy introduces AI-driven Gift Mode for seamless, personalized gifting experiences.

Here are the key insights:

💰 Temu’s Surprising Demographic Triumph:

Recent insights from Bloomberg reveal that Temu's most devoted shoppers are baby boomers (59 years and older), outpacing Gen Z by placing twice as many orders (around six) over 12 months. Temu's allure to this demographic is credited to its diverse product range and enticing discounts, encouraging frequent visits and increased spending, despite longer delivery times.

🎁 Etsy’s AI-Infused Gift Mode:

  • Etsy's Gift Mode harnesses AI, including OpenAI’s GPT-4, to craft a personalized gift-giving journey through a straightforward online quiz. The feature generates over 200 gift guides based on specific preferences, alleviating the anxiety of 71% of shoppers who struggle with choosing the perfect gift.

  • Etsy's Gift Mode not only suggests gifts but also introduces a "gift teaser" option, enabling users to send a sneak peek to recipients, addressing potential delivery delays. With a blend of machine learning and human curation, Gift Mode aspires to be a year-round destination for thoughtful and significant gifts.

The Bottom Line:

Temu and Etsy strategically employ AI – if your customer base aligns with Temu's demographics, 2024 could be an ideal time to explore this avenue. Similarly, for brands focusing on hyper-personalization through AI, Etsy emerges as a prime choice. Ultimately, AI emerges as a pivotal tool in meeting diverse customer needs.

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MEDIA BUYER INDEX

💖 Love in the Air & Super Bowl Surprises

The media buyer index from January 18-24 unveils a dynamic scene with fluctuations in CPMs, CTRs, and conversion metrics. As Valentine's Day looms, marketers are strategically preparing for increased consumer engagement.

Here’re some insights from Northbeam:

1️⃣ Strategic Seasonal Positioning:

With surging CPMs and intensified pre-Valentine's Day competition, brands should strategically align products with traditional gifting expectations to maximize performance.

2️⃣ Meta's Conversion Fluctuations:

Proximity to the Super Bowl may impact Meta's conversion metrics. Marketers should vigilantly track and adjust strategies for potential performance shifts during major events.

3️⃣ Dynamic Creatives for Engagement:

As CTRs experience a boost, embracing dynamic and captivating creatives becomes crucial. Brands should concentrate on visually compelling content, capitalizing on attention peaks for effective brand communication.

The Bottom Line:

Leverage the Valentine's Day momentum, adapt to Super Bowl dynamics, and prioritize dynamic creatives for sustained engagement. Maintain a forward-focused approach in this dynamic market. 💪


That’s all for today! While we curate another Viral Scoop Tomorrow, feel free to let us know how you felt about today! And share this with someone who’d love it